Reduction in transport fares contributed to the inflation drop in May 2025
Inflation for May 2025 has dropped significantly to 18.4%, down from 21.2% recorded in April 2025.
This means that, on average, the prices of goods and services increased by 18.4% over the past year.
According to the Ghana Statistical Service (GSS), the decline in inflation is primarily due to a reduction in transportation fares and a fall in non-food inflation.
Government Statistician, Dr Alhassan Iddrisu speaking during a press briefing on June 4, 2025, attributed the drop to lower fuel prices at the pumps, which led to a subsequent reduction in transport fares.
“These were the main drivers of the decline in inflation for the month of May,” he said.
At the regional level, Dr Iddrisu noted that the Upper West Region recorded the highest inflation rate at 38.1%, while the Ahafo Region posted the lowest at 14.5%.
Since the beginning of the year, inflation has been on a downward trend, reflecting improvements in key economic indicators.
The latest figures for May 2025 marks the lowest inflation rate recorded since March 2022.
SSD/MA